Me and my fiance are buying a 3 bedroom flat in Lampton with a mortgage. We like our Lampton lawyer, however the bank advise he's not on their "panel". It seems we have no choice but to use one of the lender panel solicitors or retain our Lampton conveyancer as well as pay for one of their panel lawyers to act for them. This seems very unfair; are we not able to insist that the mortgage company use our Lampton conveyancing practitioner ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Lampton conveyancing lawyer to apply to be on the conveyancing panel.
The Lampton conveyancing firm handling our Lampton conveyancing has discovered a discrepancy between the information in the home valuation survey and what is in the title deeds. My solicitor says that he is obliged to ensure that the bank is OK with this discrepancy and is content to go ahead. Is my conveyancer’s approach appropriate?
Your solicitor must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Why is leasehold purchase conveyancing in Lampton costs more?
The conveyancing costs for a leasehold property in Lampton is frequently more expensive as compared to a freehold acquisition or disposal. This is because there is an amount of additional work necessary in corresponding with the landlord and managing agents to collate the evidence about whether the rent and maintenance charges have been discharged and whether there are any large sums expected to be spent in the foreseeable future on repairs or maintenance of the building.
My brother-in-law has suggested I instruct a conveyancing solicitor in Lampton. I need to find out if they are accepted on the Chelsea Building Society conveyancing panel. Can you or the lender confirm if they are on the panel?
You should phone your conveyancer and ask them whether they are on the lender panel. Otherwise please call Chelsea Building Society who may be able to confirm.
The deeds to my home are lost. The lawyers who conducted the conveyancing in Lampton 10 years ago have long since closed. What do I do?
You no longer need to have the physical original deeds to establish that you are the owner of your registered land or property, given that the Land Registry hold details of all registered land or property electronically.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Lampton is where the house is located. Can you shed any light on this issue?
Flying freeholds in Lampton are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lampton you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lampton may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.